Legislation

As cryptocurrencies continue to gain popularity around the world, the UK parliament has formed the Crypto and Digital Assets Group to support innovation and regulation of digital assets.

Kharon, a provider of research and data analytics of global security threats, has joined Temenos Exchange.

Automated security validation platform Pentera has raised $150m in its Series C investment round, which was led by K1 Investment Management.

Austria-based MOSTLY AI, which aims to revolutionise how companies work with data, has closed its Series B funding round on $25m.

Starling Bank has pulled all of its paid advertising on Facebook and Instagram due to concerns regarding fraudsters on the platforms.

The cost of fraud in the US has increased by between 6.7% and 9.9% compared with before the pandemic, LexisNexis Risk Solutions report claims.

Annual General Data Protection Regulation (GDPR) fines exceeded €1bn for the first time since the regulation was implemented in 2018, Atlas VPN claims.

RegTech firm PassFort and identity verification company Trulioo have partnered to offer regulated businesses a way to digitally transform their KYC and KYB processes.

As another challenging year comes to an end, the task for organisations to remain compliant in new working environments is still ongoing. Despite firm efforts by many to avoid penalties, some institutions were unable to duck fines last year. Here are the top five compliance failure fines from the year of 2021.

Verofax, an asset digitalisation and traceability solutions provider, has received a $1.5m pre-Series A funding round.